HLB completes RM500M sub-notes

PETALING JAYA: Hong Leong Bank Bhd (HLB) has successfully completed its first Ringgit issuance of subordinated notes (sub-notes) of RM500 million under its multi-currency sub-notes programme of up to RM10 billion.
The sub-notes are rated AA2 by RAM Rating Services Bhd and qualify as Tier 2 capital of HLB in accordance with Bank Negara Malaysia's (BNM) Capital Adequacy Framework.
It has a maturity date of 10 years from the issue date and are callable by HLB on any coupon payment date falling on or after the fifth anniversary of the issue date.